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Study Says: Kids increasingly influencing parents’ buying decisions !

Parents are asking their kids for opinions before buying things, according to a new study.

Almost 40 per cent of the parents would consider their kids’ opinion but at least 20 per cent of parents would definitely consider their children‘s opinion, a study by Cartoon Network (CN) channel said here today.

“Kids continue to influence household decisions of purchase when it comes to white goods, with an average of 22 per cent parents definitely considering their kids’ opinions and an average of 44 per cent parents who may consider them,” it said.

Almost 23 per cent of parents who participated in the survey said they would definitely consider their kid’s opinion while purchasing a bike, while 44 per cent said they may consider it.

For whitegoods like refrigerators, nearly 46 per cent of parents said they may consider their kids’ opinion, while 21 per cent said they would definitely consider their kid’s choice before buying the product.

In case of microwaves, 40 per cent of the parents said they might consider their child’s opinion and 20 per cent said they would buy the product using the kid’s opinion.

The survey had a sample size of 3,700 parents with children from the age group of 4-14 years and 7,000 kids across 26 cities.

In terms of pocket money, the report found that 56 per cent of kids receive an average pocket money of Rs 275 but only 37 per cent of the kids save it. Further, 53 per cent kids received gift money with the average annual gift money being Rs 799.

The report also found that Nagpur is the city, in which kids receive the least pocket money (Rs 100), while in the North it is Rs 700.

When it comes to savings, only 37 per cent kids who receive pocket money said they save a part of the amount.

Piggy banks was the most preferred way of savings, followed by keeping the amount with parents.